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GDP a short yardstick
(China Daily)
Updated: 2010-03-05 08:53
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GDP is not the right yardstick to measure the well-being of a society in light of the fact that the GDP of Guangdong province has reached the level of some G20 member countries, says an article in China Youth Daily. Excerpts:
Guangdong's GDP surpassed that of Saudi Arabia, Argentina and South Africa last year. But it doesn't mean the average person in Guangdong is as affluent as people in most of the G20 member states.
And though Shanghai's per capita GDP is high - it could rank 12th among G20 member countries - actual living conditions there and other major Chinese cities, including Beijing, cannot satisfy even their residents.
There is unfair distribution of resources in fields such as education, healthcare and housing. The lack of democratic and legal supervision and people's participation worsen the problems and lead to abuse of power. Harmonious development doesn't depend on economic growth alone. It also depends on equitable and monitored distribution of national wealth.
(China Daily 03/05/2010 page10)
